International Paper (NYSE:IP) Sees Significant Increase in Short Interest

International Paper (NYSE:IP) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 10,600,000 shares, a growth of 66.1% from the March 31st total of 6,380,000 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average trading volume of 5,330,000 shares, the short-interest ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IP shares. Truist Financial reiterated a “buy” rating and issued a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and lifted their price target for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Wells Fargo & Company decreased their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Finally, Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Up 0.9 %

IP opened at $33.83 on Friday. The business’s fifty day moving average is $36.64 and its two-hundred day moving average is $35.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 41.26 and a beta of 0.99. International Paper has a one year low of $29.00 and a one year high of $41.28.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Analysts anticipate that International Paper will post 1.91 EPS for the current fiscal year.

Insider Transactions at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 8,800 shares of company stock valued at $310,438. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of International Paper

Institutional investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in International Paper by 421.1% during the third quarter. Exchange Traded Concepts LLC now owns 9,963 shares of the basic materials company’s stock valued at $353,000 after acquiring an additional 8,051 shares during the period. Czech National Bank increased its stake in shares of International Paper by 47.2% during the third quarter. Czech National Bank now owns 60,474 shares of the basic materials company’s stock valued at $2,145,000 after acquiring an additional 19,389 shares during the period. Oak Harbor Wealth Partners LLC acquired a new position in shares of International Paper during the third quarter valued at approximately $205,000. Uncommon Cents Investing LLC grew its position in International Paper by 0.5% in the third quarter. Uncommon Cents Investing LLC now owns 83,055 shares of the basic materials company’s stock worth $2,946,000 after buying an additional 385 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its position in International Paper by 9.8% in the third quarter. Valeo Financial Advisors LLC now owns 22,018 shares of the basic materials company’s stock worth $781,000 after buying an additional 1,971 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.